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Poster: Mandojammer Date: Oct 27, 2009 1:54pm
Forum: GratefulDead Subject: Re: thought for the day

jg -

If you really are concerned about how much debt the morons in DC are piling on the backs of your great grandchildren a good start would be a letter to your Congressional and Senatorial representation to get the fuck on board and support HR1207 or SR 604 (Federal Reserve Transparency Act).

The Fed has pissed away TRILLIONS of dollars chasing toxic debt and propping up a banking industry that is fundamentally flawed. Fractional Reserve Banking is bad enough - allowing these fuckers to speculate in derivatives and other uber high risk pursuits is idiocy - and you and I have to pay for it.

I'm one of the lucky ones - I have a retirement from my time in the Navy that I can just about live off of. My family retirement medical insurance is pretty darn good and even when the system melts down, my pension and medical coverage will be among the last programs to go.

The Central banking system that has the country's balls in a vice needs to go and the sure way to hasten that end is to completely open up the Feds books and expose them for the utter fraud they are perpetrating on all of us. The downside is our economic system will invert overnight - but at least we will have enough pissed off people to wrest control back.

Without getting all Red White and Blue on you guys, I'll leave you with this quote I read somewhere (my emphasis in Caps):

"That whenever any form of government becomes destructive to these ends, IT IS THE RIGHT of the people to alter or to abolish it, and to institute new government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their safety and happiness....But when a long train of abuses and usurpations, pursuing invariably the same object evinces a design to reduce them under absolute despotism, it is their right, IT IS THEIR DUTY, to throw off such government, and to provide new guards for their future security."

That about sums it up for me.

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Poster: dead-head_Monte Date: Oct 27, 2009 6:39pm
Forum: GratefulDead Subject: Re: thought for the day




yep, and The ABA (American Bankers Association) are having their convention in Chicago right now. Last night, hundreds of angry protesters showed up to PROTEST these evil scumbags who were going to pig out at their opening reception, while the rest of us are screwed. Check out this short YouTube video clip from there last night. It's people just like you and me, angrier than a hornets' nest being pissed upon. Look at these BANKING CRIMINALS & THUGS - caught on-camera! All of them are very clearly ashamed to be seen in public at this event. Look at them and see for yourself — only one Banker is smiling, some look down, others look away, a few look into the camera - looking just like child sex predators that just got caught by the cops. Where's some baseball bats? Here's the short YouTube clip of a bunch of angry protesters inside the Sheridan Hotel lobby there. Notice the strectch Limo going by, also caught on-camera.

This post was modified by dead-head_Monte on 2009-10-28 01:39:32

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Poster: direwolf0701 Date: Oct 27, 2009 5:36pm
Forum: GratefulDead Subject: Re: thought for the day

thank god banking reform doesnt take effect until February! I mean, how could they pay for their "convention" otherwise?

(fuckin trash financiers)

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Poster: jglynn1.2 Date: Oct 27, 2009 2:44pm
Forum: GratefulDead Subject: Re: thought for the day

Thanks Mando. Being in NY I can't say as I have much hope for my representatives doing anything I can certainly petition them.

I just checked and 13 NY Congressman are co-sponsors of HR 1207

Surprise surprise - none of the NY senate members are co-sponsors of S 604 - guess I'll have to send some letters.


This post was modified by jglynn1.2 on 2009-10-27 21:44:30

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Poster: srtg83 Date: Oct 27, 2009 6:09pm
Forum: GratefulDead Subject: Re: thought for the day


Up here in the Great White North, we avoided the meltdown without having to bail out one single financial institution or insurance company. How did this happen? Very simple, few, large, highly regulated banks with reserve ratios that are the highest in the G20. You will never get away from fractional reserves banking but at least you can manage risk by sufficiently capitalizing your banks. You are right, though, this is strictly a political decision.

"We will not remind market participants of the many oaths they swore a year ago; nor do we expect scores of financiers to join religious orders," Carney (Bank of Canada gov.)said. "However, we do expect those fevered battlefield vows to be respected."

"Ultimately, Carney said, the system must be set up so that risk is again assumed by financial institutions. But if they fail, so be it." Amen.

This post was modified by srtg83 on 2009-10-28 01:09:57

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Poster: Mandojammer Date: Oct 28, 2009 10:25am
Forum: GratefulDead Subject: Re: thought for the day

srtg -

You are lucky up in the land of Labatts Blue. As you no doubt know, the way the FRB system runs down here makes a redneck family reunion look normal. For those who don't understand FRB here is a greatly simplified version.

I deposit $10,000 into my bank. My bank can loan 90% or $9,000 of that money to the next customer. In walks PM Tell - who takes out a loan for $9000, and it just so happens that he gets my $9K. Out he goes and heads off to a bank where he has another account and deposits the money.

Along comes Dire - desperately in need of a loan to pay off some extortion scheme (we can only guess). PM Tell's bank can loan $8,100 which just happens to be what Dire needs. So Dire takes out the loan for $8,100 and in a twist of irony pays off the perfesser of parsing - RobTheWordsmith. RTWS happily collects and takes the $8100 to his bank and deposits it. Two days later BD comes in to cover some bad bets on UNC football and takes out a loan for - you guessed it - 90% of RTWS' $8,100 - or about $7,200.

Add them up - $10K + $9K + $8.1K + $7.2 = $35K of money in the 'system' and only $10K of real capital to cover it. If anyone in the chain defaults - all of the money (which is in fact debt that has been loaned into existence )is gone.

Now comes the fun part - for whatever reason, the 'system' allowed regional and national level banks to bundle these loans into attractive derivatives and sell them to speculators (typically other banks). For the sake of this argument I greatly simplified the loan examples - all of us know that the big issue lately were the packaged Mortgage Backed Securities and mortgage related derivatives.

There was so much swapping of these horseshit MBSs and derivatives back and forth that literally trillions of dollars of money/debt was created out of thin air. It only took a fraction of the holders (in some cases as low as 4-5%)to default and the entire fucking system would come falling down under the weight if its sheer idiocy.

The problem was the vast amount of money in these ponzis that were backed by US Treasuries and the incestuous relationship between our Federal Reserve officials, Treasury officials, Wall Street and ginormous investment houses. Geithner came from the New York Fed - where he authored the JP Morgan Chase and Bear Stearns bailouts before being picked as Treasury.

OPINION WARNING - Am I the only one who thinks this is about as fucked up as it can get? I mean, besides putting the Queen of Botox Pelosi and Harry 'The Alien' Reid in charge of anything. Shit, I'd rather have Al Sharpton in charge of my company's Equal Employment Opportunity division. Yeah - I lean to the right a little, but not as far as some of you think.

Here's how I see it. The US system of debt/money and our economy are smack in the middle of a larger international system that has been stacked on top of itself like a gigantic jenga game.

And for some reason - putting Bernanke and Geithner in charge of extricating us from this mess is like picking Michael J. Fox as our guy to go pull out a block? And then we are going to be surprised when the whole pile collapses????

No problem.

Fire up the printing presses and loan a couple more trillion into existence. That Weimar thing? Fluke. Argentina collapse - can't possibly happen again. Zimbabwe?? Naaaah - a billion Zimbabwean dollars for three eggs is a fair price.

Obama says so - because hope is a winning strategy. WTF?

I myself am betting on aliens landing in Central Park. And hoping that they piss light sweet crude and shit .999 gold brick.

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Poster: dead-head_Monte Date: Oct 29, 2009 10:28am
Forum: GratefulDead Subject: Re: thought for the day

Good one, Mando. I would remind people, as you were alluding, about the "fixters" at the financial instrument ratings agencies - Moody's, and Standard & Poor's, are the 2 biggest. These ratings agencies fixed much of the Ponzi shemes. They took JUNK - these were the all the bad sub-prime loans - and they spread or drizzled them around into mortgage-backed securities and other dilluted financial instruments. So they fraudulently produced AAA ratings in many cases. They did it on the "inside," by using their tooth-fairy analysts at Moody's and Standard's & Poor's to "bait 'n switch" these investment securities. The analysts told their computer models, and they were telling the world, "Housing Prices and values will always go up. They will never go down." Yep, and I am Santa Claus. Then AIG sold hundreds of $$$billions of phony insurance for this shit! They made $Billions. Wait, we are paying the bill for AIG.

Some of this JUNK spread into complex derivatives and credit default swaps. Greedy Hedge Funds investors, Wall Street big firms, Big Banks and investment firms got super-greedy and way over-leveraged themselves on this crap. They made huge salaries and bounuses. Meanwhile regular people were encouraged to just keep getting more greedy too, and keep taking on and piling up ever-increasing amounts of debt, just like the fabled Pied Piper.


AAA is supposed to be the best, safest, most secure financial rating in the world. It's as good as gold. It's as good as the air we breathe, the water we drink, and the food we eat. Without AAA, the system falls apart. No one has been punished, there were no penalties, and there are no new regs. We lost our shirts. Here we are. The recession is over.


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Poster: skies Date: Oct 29, 2009 10:45am
Forum: GratefulDead Subject: Re: thought for the day

Raters and ratings were corrupt ,big business , big medias , pig politiciens , all together preaching loudly what a wonderful world it is , so buy ,buy ,buy ,on credit , and then pay pay pay foremore for AAA ratings !These scams go on since wall street was invented .Methinks ,that exactly why wall steet was set up for , scamming on those little people gullible about medias's propagandia . Wars are sold the same way to the people !

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Poster: srtg83 Date: Oct 29, 2009 8:24am
Forum: GratefulDead Subject: Re: thought for the day

Great Post Mando

If anyone is interested in reading more about these legalized ponzi schemes, I highly recommend a piece by Matt Taibbi in the October 15 issue of Rolling Stone titled "Wall Street's Naked Swindle" (p.50). It is a stunning description of a type of "short sale" called "naked shorts" that brought down Bear Stearns and Lehman Bros.

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Poster: jglynn1.2 Date: Oct 29, 2009 9:08am
Forum: GratefulDead Subject: Re: thought for the day

Don't worry Mando

Cap & Tax (I'm mean trade) will shore everything back up


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Poster: Mandojammer Date: Oct 29, 2009 9:16am
Forum: GratefulDead Subject: Re: thought for the day

Just another lefthanded way for the Pimp of Hope to redistribute the wealth.

I for one can't wait for the complete collapse of the US economy. I just hope it happens before 21 December 2012 when Lex Luthor arrives in his solar-powered batmobile to take the chosen of Xanadu back to the volcano on Antares.

I mean there has to be something to it - didn't they recently find WASP-17 - some retrograde exoplanet in Scorpio that will usher in the end of the world?

Cue "Toccata and Fugue in D Minor" featuring Dick Cheney as the Evil Organ Player.

or this dude


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